Business / SBI, Bank of Baroda savings accounts: minimum balance rules, penalty explained

Livemint : Apr 13, 2019, 10:55 AM
State Bank of India, Bank of Baroda & other leading banks have fixed their monthly minimum average balance requirements according to location of customer's account. Banks also charge a penalty from customers who fail to maintain an average monthly balance in their savings account. Generally, banks charge penalty on non-maintenance of MAB in your saving accounts. Penalty varies on factors such as location of branch.